Correction, June 01: This post originally stated Yuandaofu’s total valuation in RMB.

Yuanfudao (猿辅导), online tutoring services targeting the K-12 educational segment, announced recently that it has completed an E round worth US$ 120 million (in Chinese). The round, the largest in the sector in China and led by Warburg Pincus, has put the company’s valuation at US$ 1 billion in less than two years since its launch. Tencent also participated and was the sole investor in their series D+ of US$ 40 million.

Yuanfudao offers online tutoring services that help students from the elementary to high school level, with courses encompassing all subject areas including Chinese, English, math, history and biology.

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Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.